Many real-world networks exhibit a high degeneracy at few eigenvalues. We show that a simple transformation of the networks adjacency matrix provides an understanding of the origins of occurrence of high multiplicities in the networks spectra. We find that the eigenvectors associated with the degenerate eigenvalues shed light on the structures contributing to the degeneracy. Since these degeneracies are rarely observed in model graphs, we present results for various cancer networks. This approach gives an opportunity to search for structures contributing to degeneracy which might have an important role in a network.